Miller CEO says more are drinking cheap beer

As a direct result of
people having less disposable income as they grapple with higher gas and food
prices, they have been buying economy beers like Milwaukee’s Best at the
expense of higher priced brews since January, according to Miller Brewing CEO
Tom Long.

The beer industry has
been stable during tough times in the past, but executives are watching
carefully to see whether the shift toward cheaper beers continues, Long says.
Americans also are spending less in bars and restaurants, and Long says Miller
is starting to see a drop in sales to those businesses.

The Milwaukee-based brewer saw a small increase in sales of economy
beers like Milwaukee’s Best starting in January, at the expense of
higher-priced brews, Tom Long told The Associated Press in an interview.